Yes Bank plans to raise $666 mn more after govt bailout

VCCircle | Mar 26, 2020 at 8:13 PM
  • Yes Bank Ltd has approved plans to raise up to Rs 5,000 crore ($666 million) to strengthen its capital base after the government rescued the private-sector lender.
  • This comes after the government notified the rescue plan drafted by the Reserve Bank of India (RBI) under which SBI infused Rs 7,250 crore to pick up around 49% equity in Yes Bank.
  • The rescue plan was supported by several other private lenders including ICICI Bank and HDFC pumping in Rs 1,000 crore each, Kotak Mahindra Bank and Axis Bank Rs 600 crore each, Federal Bank and Bandhan Bank Rs 350 crore each and India First Bank infusing Rs 250 crore.